Pretoria, 27 May 2014 – The joint United Nations Economic Commission for Africa/African Union Commission annual flagship report, themed “Dynamic Industrial Policy in Africa: Innovative Institutions, Effective Processes and Flexible Mechanism”, was launched at the University of Pretoria on 27 May 2014.

Dr. Adam Elhiraika, Director, Macroeconomic Policy Development Division, UN Economic Commission for Africa, presents the main findings of the 2014 Economic Report on Africa held at the University of Pretoria, 27 May 2014

The report was launched at a time when Africa is emerging as a central region for global growth. It makes the argument that it is required for African countries to institute credible industrial policies as well as institutions that will advance structural transformation on the continent if industrialization is to successfully occur.

Key Messages:

“There is a strong consensus that an expanding and prosperous industrial sector is crucial to the structural transformation of African economies and that, given the ubiquity of market failures, industrial policy interventions are usually required. Markets by themselves are also generally incapable of undertaking the kinds of structural transformation needed to move from low- to high-productivity activities..”

Garth Strachan, Deputy Director General, Industrial Development Division, Department of Trade and Industry, discussant at the launch of the 2014 Economic Report on Africa held at the University of Pretoria, 27 May 2014

Dr. Agostinho Zacarias (left), UN Resident Coordinator / UN Development Programme Resident Representative in South Africa, presents at the launch of the 2014 Economic Report on Africa held at the University of Pretoria, 27 May 2014

The UN and South Africa

South Africa was one of the original 51 founding members of the United Nations, which came into existence on 24 October 1945. Since its inception the membership of the Organization has grown to 192 States. More »